Turbotax: T5007 and T1 General Line 144 & 250


Turbo tax: T5007 & T1 General Line 144 & 250

Q: How does one claim for worker's compensation? How does one declare workers' compensation benefits for income and deductions on T5007? How does T5007 impact line 144 and 250 on T1 general? How does it impact total tax payable and refund?

A: As shown in the video... Line 144 will show worker's compensation benefits as declared on T5007 and Line 250 will show total deductions like worker's compensation benefits and Social assistance...
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Procedure:

Step 1: Fill out a personal dialog box with the personal information of the taxpayer.

Step 2: Access T5007 on Turbotax and declare Worker's Compensation Benefits on Box 20.

Step 3: Verify that Line 144 on T1 General matches the figure in Box 20 for T5007.

Step 4: Make sure Line 250 on T1 General matches the sum of Box 10 and box 11 on T5007.


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Location: North America

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